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meaningful and comprehensive tax and entitlement reforms. this is the number one story that we've been talking about every morning here since the election. fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end of the year, but we still then have the whole debt ceiling fight that would transpire shortly into the new year. the issue isn't simply the negative result of going over the cliff, but it's also that business, consumers, everybody continues to hold back on the uncertainty. and we believe the economy is pretty well positioned potentially in 2013 if we can put this behind us. so i think a lot of what's going on is what you would expect to see in this n
a short-term agreement right now and then pushing important decision abouts entitlement reform taxes that kind of stuff into 2013. clearly we're not confronting a killer drop off, a fiscal cliff that we hear so often that will send the country careening into a recession after bees december 31st. this will play out across 2013. it's not going to happen all on one single day. it is a fiscal slope. some of the budget lines here in washington has tried to emphasize that point. but the problem is when you have john boehner and in the white house, folks like this in washington using the term fiscal cliff, it takes to become a reality and take on language of its own. >> eliot: it seems to me that there is an element of hysteria being created and used by some folks. you have fix the debt coalition that is pounding away at this terror, and then you see cmbc and this business interest. then they come in and ask for a huge cut in corporate taxes. one doesn't follow the other. is this an element of a trojan horse being used by folks to ramp up hysteria, and then get policy changes that aren't ev
unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired. and republicans have been pushing back on that -- tax breaks rather for the wealthy expired and republicans have been pushing back on that, say they go believe that will be
the so-called fiscal cliff. that steep across the board spending cut and tax increase scheduled to hit in just 33 days. in a scathing assessment today, the speaker of the house john boehner says there's been no substantive progress on a deal. need to realize there can be no deal without tax rates going up for top earners. let's go live to our chief white house correspondent jessica yellin. she's got more on the latest developments. tough talk from both sides, jessica. >> reporter: tough talk and some bright lines, wolf. on the same day that treasury secretary tim geithner went to capitol hill to meet with both democrats and republicans to talk about these negotiations, there is tense body language and tough words on both sides of pennsylvania avenue. they're starting to sound dug-in on capitol hill. >> all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. >> reporter: at the white house. >> this is available not just here but to everyone in the world who has an internet connection. and i know things are done the old fashioned way sometimes on cap
of a mandate to increase taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money. i'm not fixing the problem by solving the problem, and providing the benefits that people need. >> reporter: cutting spending and attending to constituent needs are often very much in conflict, jenna. jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choices that congress and white house seem unwilling to m
, your taxes will go up despite the haggling going on on capitol hill. you will be paying more to the u.s. government. stuart varney joins me now. so, stuart, that's the bottom line. this is what people i think across the country are starting to realize no matter what they negotiate, 2013 will be different for most of us. >> this is the untold tax story. everybody has been concentrating on tax the rich, yes or no. but the payroll tax holiday goes away january 1. neither political party wants to keep it going, therefore the tax -- the social security tax for everybody who works goes up as of january 1. that will take $120 billion out of the economy. it is a tax increase of $120 billion. martha: the bush tax cuts and letting them go versus this increase. how does it all balance out? >> reporter: just consider this. you reported 370,000 people filed for first-time unemployment claims last week. that's a high number. forget about sandy, 370,000 is a high number. here we are raising taxes on everybody who worked by $120 billion. maybe we'll also raise taxes on richer people, wealthier people
don't need to see their taxes go up. >> that's one way to create opening day buzz, although it looks like watching this scene everybody was more interested in watching the vice president do his own shopping there. >>> also, why are people receiving this fund-raising e-mail from bill clinton? quote, i've enjoyed it so much whenever we've brought one of hillary's strongest supporters to new york to spend a day with me, i'm happy to tell you that i've asked to do it again. this is not the launch of a 2016 campaign. secretary clinton's 2008 campaign still owes $70,000, and they're trying to pay it off. just weeks after galvanizing the >> there's a lot of scientific data that i found out as a scientist that shows this is really a young earth. i don't believe that the earth's but about 9,000 years old. >> broun is not alone. when marco rubio was asked about the age of the planet in a recent interview, he dodged it saying, i'm not a scientist, man. now televangelist pat robertson of all people is weighing in, but not in a way you might expect. we're going to have pat robertson back. pat rob
do go over the cliff. they should pass an extension of all these tax cuts, make it clear they want to keep them for everyone including have much for the middle class. john boehner should say we passed this out of the house. let's see harry reid and the democrats pass this out of the senate. bill: i get the impression both sides are miles apart from the deal. and i'm told by smart people i'm dead wrong on that. are you of mind a or mind b, rich? >> i don't think there is a deal sitting there. i think they would have to sit down and negotiate it. bill: kirsten before you address rich's answer, are you in camp "a" or "b." >> they don't have a deal. how can you have a deal when you don't have the republicans making a counter offer. they keep saying where is the serious offer, they want more in terms of cuts. but they haven't really made a counter offer. i find this stuff that the republicans are saying is being counter productive. we are flabbergasted, we laughed eight. what is the point of that. make a counter offer. >> i think they would argue the tax revenues was their counter offer
unless washington gets its act together 90% of americans will see their taxes rise as a series of tax increase and spending cuts take effect. yet negotiations between the white house and congressional republicans are at a standstill. anna werner is in our washington bureau. good morning. >> reporter: good morning. unless congress comes to an agreement on the fiscal cliff it would mean a tax hike plus some $65 billion would be cut from the pentagon and other government agencies. both sides are hoping for a compromise. but so far all there's been is debate. >> i've been keeping my own naughty and nice list for washington. >> reporter: president obama took his fight to the public while visiting a toy company in pennsylvania where he warned republicans not to play scrooge. >> it's not acceptable to me and i don't think it's acceptable for you for a handful of republicans to hold middle class tax cuts held hostage. >> reporter: the white house proposal includes $4 trillion in deficit reduction, $400 billion in cuts to entitlement and $50 billion in infrastructure. john
news continues. fiscal cliff of tax increases and sharp spending cuts is now exactly one month away. in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson c
the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to extend one of them. the president continues to put political pressure on lawmakers. he met with a middle class famil
of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this is a camp david-style summit might help things move around. a senate republican told greta van susteren it's time to be honest about retirement benefits. >>
the president. 1.6 trillion in new taxes. that is the opening part of the deal. 50 billion in new stimulus spending. we already had a lot of backlash in stimulus in previous packages. this is interesting element here. new executive power to raise the debt limit. that is what caused so many of these discussions because they bump up against the debt limit and not be able to go back this. there is executive power plea to be able to do that without going back to confess. republicans are saying where is the balance? where is the spending cut side of the equation. the president said he wanted it to be a balanced deal. watch. melissa: so right now all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it is time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to make. melissa: republicans have made some nice, positive noises but they haven't put their plan on the table. so we're asking them, you know, what they have got. bill: so that sound you hear, america, is gridlock. mike emanuel is live
of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on f
fire for using what one person called vicious and vile warfare to discuss the virtues of taxing the rich. we will play the video and debate what kind of message this ascending. >> the 1% said don't worry, this is good for you because it will trickle down from us to you. someday you will be rich and someday you will be rich and these rules will be your rules too. fancy water. i've gotine grams of protein. that's three times more than me! [ female announcer ] ensure clear. nine grams protein. zero fat. in blueberry/pomegranate and peach. is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup inheir arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alonaren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more hig
a deal to avoid the so-called fiscal cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. but, it is unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us in jeopardy, for small business and other parts of the e
cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not
't see taxes go up on anybody so that we can engage in tax reform and get this economy going, again. >> democratic senator max baucus says congressional leaders and the president need to get to work on negotiations right now before the u.s. enters unchartered waters. >> i think if there's no agreement, whatsoever, if the other side is completely that the president has probably no choice but to say, okay, we're going to go with a cliff. that would not be my first preference. >> should that happen, should we go over that so-called fiscal cliff republican congressman lee terry thinks there could be an alterier motive on the part of the president. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans and that's what we look like we're being set up to do. and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the night and shining armor and lower the taxe
-working folks who don't need to see their taxes go up. >> that's one way to create opening day buzz although it looks like watching this scene everybody was more interested in watching the vice president do his own shopping there. also, why are people receiving this fund-raising e-mail from bill clinton? quote, i've enjoyed it so much whenever we've brought one of hillary's strongest supporters to new york to spend a day with ming i'm happy to tell you that i've asked to do it again. this is not the launch of a 2016 campaign? secretary clinton's 2008 campaign still owes $70,000 and they're trying to pay it off. just weeks after galvanizing the country for president obama, big bill is back there working his fan base again offering donors the chance to spend time with him. >>> next, remember when georgia congressman paul brawn braun offered this account of how old the earth is? >> there's a lot of scene tisk data that i found out as a scientist that shows this is really a young earth. i don't think the oert is 9,000 years old. >> browne is not alone. when marco rubio was asked about the age of
with these massive increases in rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over $200,000, but most are not very wealthy or folks, most are small businesses filing subchapter "s" companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> something is going to have to give. from everybody i've talked to and from what we've heard, there two options for the country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single, $250,000 if they're a family. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just talking about, according to the congressional budget office, that's going to mean 200,000 american families will be out of work n
reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >> according to state tv iran's revolutionary guard captured a u.s. drone after it entered the iriranian air space over the persian gulf. >> but u.s. navy official says there are no missing drones. >> prince william and his wife katherine, expecting their first child. >> after the duchess was admitted to hospital. >> that child could grow up to be one of the most powerful unemployed people in the world. >> a search is under way in new york for a man accused of pushing another man to his death in the subway. >>> rg3, he made opportunities. >> 17-16 washington redskins. >> all that -- >> why don't you shut up? >> you are an embarrassment. >> please shut up. just shut up. >> you shut up. >> that got annoying at the end. >>> and all that matters. >> let the speculation begin. will and katherine are expecting a baby. but what happens if they have twins
and tax increases, if negotiations break down. both sides of the aisle are going straight to the public in order to plead their case or tell us why the other side is to blame. this is president obama a in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. but, it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes that hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of the aisle are advocating a disastrous thelma and louise strategy that would take us over the cliff putting families and small businesses and weak economy in further jeopardy. >> negotiations wil
cliff if republicans don't agree to tax hikes on the richest americans. and so we welcome peter alexander, at the ranks of the white house correspondents, with a look at all of it. >> reporter: brian, good evening, on the north lawn, the phone call marks the first time speaker john boehner and the president spoke in a week, that is hardly something to celebrate, but they wouldn't characterize what they discussed in the phone call as the country barrels towards the fiscal cliff. with no talks and no progress to avert the looming fiscal cliff, you could say the house has left the building, streaming out of the capitol. tomorrow's session cancelled. with only three work days left this year, they are often criticized. just 16 votes. across the country, rising frustration, americans asking why the holdup. and what will their taxes look like in 2013. >> maybe instead of getting my sister two things, you give one thing, you have to give pause on what could happen next year. >> reporter: today, president obama and house republicans are locked in a political stare down. with neither side
it differently, they should tell us how they want to do it. >> i believe raising tax rates hurts our economy, hurts the prospects for more jobs in our country. >> shannon: as the sparring continues over the fiscal cliff, neither boehner nor geithner can say for certain that the country will not go over the edge. i'm shannon bream. america's news headquarters live from the nation's capital starts right now. >> shannon: we want to get to the budget standoff. peter doocy joins us live. there is time to strike a deal but not a lot. >> reporter: that's right. the speaker of the house john boehner made a point today to say there is not much time between election day and the end of the year. he thinks the white house has already wasted weeks because he does not think the proposal to avoid a fiscal cliff is serious one. negotiations here are nowhere. another republican, senator lindsey graham thinks he thinks things are heading down hill. >> i think we are going over the cliff. it's clear to me they made a political calculation. the offer doesn't deal with the entitlement reform to save the medicare
%. >> we're looking at the potential of bringing in more than $500 million each year in new tax revenue. >> reporter: the big question still, what will the federal government do? pot is still illegal federally. today a legal toak-up revolution burning here in colorado. the only things the feds are saying at this point is that marijuana is still illegal federally. think of it this way in washington state, it will be treated like booze, basically, hard liquor. you have to be 21. you can get busted for dui, can't drink it in public, those sorts of things. all those rules are yet to be written, in a year or so you'll have pot stores all over this state. back to you. >> a number of big employers like boeing and costco ban their employees from smoking marge math. there are other companies that have to do drug testing. will this new law change anything for employers? can workers still get fired for testing positive? >> reporter: the simple answer is no, you can still get fired. you can't smoke pot and go to work. it doesn't change anything with regard to employers who have those rules in place
all agreed to, which is let's keep middle class taxes. we don't have a lot of time. >>> secretary geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is closed. the entrance is blocked by protesters as clashes erupt nearby. >> zebra and s hechlt tland pony ran wild through the streets of new york city. they apparently escaped from a petting zoo. >>> nypd says actress lindsay lohan has been raefed and charged with assault. >> three, two, one. >> only nbc would make a television event out of plugging something in. >> all that -- >> oh, humphries and rondo get into it. officials trying to get control here. >> don't tell me what i think. when i said i didn't have a problem, i don't have a problem. got it? >> and
that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say their plan would cut $2.2
executives says the coffee company will pay more taxes in the company starting next year. the payments will amount to about $16 million u.s. starbucks along with google and amazon have been using legal loopholes to minimize their corporate taxes in britain. execs of all three companies recently got a public -- >> despite the fact that starbucks, how much money it makes. it's kind of like a drop in the bucket. >> well, yeah. yesterday we pointed out that between all the various ways that starbucks takes there is really nothing left, nothing at all left for profits. today what the company announced is that they are going to take the money that they pay in royalties and the money they pay on inter-company events like loans, and here going to no longer take deductions. what does this mean in reality? in practice it means there will be money, more money, for starbucks to pay as corporation tax, but here's the thing. >> okay. >> they say they'll pay maybe $50 million this year. the numbers are still being worked out. similar amount next year. well, you might have gotten that the british say,
will their taxes look like in 2013. >> maybe instead of getting my sister two things, you give one thing, you have to give pause on what could happen next year. >> reporter: today, president obama and house republicans are locked in a politicalstair staredown. >> we can probably solve it in a week, it is not that tough, we need that breakthrough that says we need to do a balanced plan. >> although the president seems obsessed about raising taxes on you, we feel it is not the right direction to go. >> reporter: it comes down to a tug of war over taxes. the president's proposal, increasing rates on americans making more than $250,000, to raise 1.6 trillion over a decade. house speaker john boehner wants to cut the number in half. >> there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government. without raising tax rates. >> reporter: and the president today offered this warning to republicans. amid reports they may accept mr. obama's plan to extend tax cuts for most americans while allowing them to go up for the richest, and start the
to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. i
millions and his work. marco rubio, pat toomey. very conservative, anti-tax, anti-government purists in the mold of jim demint. however, he also backed in republican primaries a number of republican candidates who simply were not electable according to the republican establishment and the establishment was right. for example, remember christine o'donnell, i'm not a witch, from delaware. ken buck of colorado. and others. so those are some of the reasons why he definitely has ruffled many a-feather with the party leaders and i have to tell you first thing i saw when the senate republican leader mitch mcconnell released a statement today was making the point that demint had, quote, uncompromising service. didn't have to read between the lines too much to see there's a backhanded compliment. >> dana, what about bigger picture here and talking about the republican party aenl just talking about folks like ryan and rubio, let's say, part of maybe the next generation republicans. do you think that demint's brand of republicanism is falling out of favor with sort of the newer version of what
as year-end tax hikes and spending cuts moved another day closer. on the face of it there seemed to be little movement today. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sreenivasan: treasury secretary timothy geithner and legislative chief rob nabors arrived at the capitol this morning, for meetings with congressional leaders. house speaker john boehner also spoke to president obama on the phone last night. he said he wanted to know where the administration would rein in spending, but that he had heard nothing new. >> i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president is really willing to do. listen, i remain hopeful that productive conversations in the days ahead can be had but the white house has to get serious. >> sreenivasan: senate minority leader mitch mcconnell echoed that complaint. in a statement, he said, "today, they took a step backward and significantly closer to the cliff." conversely, white house spokesman jay carney charged republi
. well, 28 days to go until tax cuts expire for most americans if president obama and congress can't cut a deal to keep us from going off the fiscal cliff. the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the republic math does not add up. >> that's right, shep. he met with the nation's governors today. he said behind closed doors that there is a lot at stake not just for the national economy but state by state. some of their budgets could take a major hit if, in fact, the nation goes off the so-called fiscal cliff. his spokesman jay carney was even tougher in going after speaker john boehner's latest proposal in saying it simply doesn't add up. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> the
: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone not too long ago. >> that's right, harris. we confirmed that there was a phone call between the two leaders this afternoon. no major progress but i'm told by one aide briefed o
are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax revenue. that there is too much in terms of spending cuts. also limited detail as you noted about those spending cuts. anot
obama appeared at a factory in pennsylvania making his case for raising taxes on top earners and accusing a handful of republicans of holding up a deal. if a deal is not reached by december 31, a $600 billion combination of tax increases and spending cuts goes into effect. let's get a check now on how the markets reacted to all of that news. our correspondence sent us this report from frankfurt. >> the dax climbed for about 2% this week, and share prices have been pushed mainly by the rescue package for greece, but at this last trading day of the week, trading has been quite low. the positive trend continued, although there has been some bad news coming in, like the record high unemployment rate in the euro area and the fact that u.s. consumers spend less money in october. nevertheless, the mood is fine. investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. e
a hard line on taxes. >> republican and the white house both have offers on the table on how to resolve the nation's fiscal cliff crisis. >> we wasted an enormous amount of time here, sparring back and forth in public. it's a good time to get serious. >> let's just go over the [ bleep ] cliff. because you know why? at least for a few seconds, it will feel like we're flying. >>> this morning, police are questioning a man in that deadly subway push. they say he has implicated himself in the crime. >>> duchess of cambridge is continuing to feel better. >> australian radio station was able to pose as the queen, get information on the phone about kate's health. >> want to see how her -- >> she is sleeping at the moment and she has had an uneventful night. >> mohamed morsi under siege after 100,000 protests in the streets. >>> l.a.'s mayor has announced an end to an eight-day strike at the largest port complex. >>> best man's friend is learning a new trick. how to drive a car. get off the road. >> three, two, one. >> god bless us, every one. >>> nine weeks, officially over. >> snooki wants to
will now be squeezed, and there will be a tax rates on the pension pops. >> i know these tax measures willthought to balance not be r. ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the chancellor's statement -- after all of the facts and figures of the chancellor's statement, we are left with a feeling of malaise. >> you are watching bbc world news america. still to come, aero controversy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge is released to two is jockeys. >> in bangkok, thousands of thais turned out to catch a glimpse of the mark on his 85th birthday in a rare public appearance prepare aero controvy
for logger, until 2018, in fact. that means more benefits will now be squeezed, and there will be a tax rates on the pension pops. >> i know these tax measures willthought to balance not be r. ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the chancellor's statement -- after all of the facts and figures of the chancellor's statement, we are left with a feeling of malaise. >> you are watching bbc world news america. still to come, aero controversy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge is released to two is jockeys. >> in bangkok, thousands of thais turned out to catch a glimpse of the mark on his 85th birthday
-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal, the two key players yesterday picked up the phone. the phone call relatively brief and substantive, though details remain illusive. shorter, sources say. the last week 28-minute conversation described then as curt, direct and frank. no one with this call used such barbed words and occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> if the administration, are they prepared to go over the fiscal cliff? >> absolutely. no prospect or agreement that doesn't involve those rates going on on the top 2%. remember, only 2%. >> reporter: that danger? not enough to keep congress in session. it's all right quit for the week. most lawmakers assume correctly there are bit players until there's a deal. that looks more complicated until mr. obama demanded republicans raise the debt ceiling this month without any spending cut strings attached. >> if congress in
. oklahoma's republican senator tom coburn a leading conservative saying he is okay with raising taxes on the wealthiest 2% of americans. in a few moments, soledad o'brien will talk with oregon senator is jeff merkley. he sits on the budget committee. >>> naeem davis now charged with murder for allegedly pushing a man off a new york city subway platform. davis was arraigned last night on a second-degree murder charge. police say he pushed 50-year-old ki-suk han on to the tracks and into the path of an oncoming subway train. >>> internet security pioneer john mcafee could be deported to belize as early as today. guatemalan officials detained mcafee yesterday. they accuse him of entering their country illegally. he turned up in guatemala on tuesday after disappearing from his home in belize. police there want to question mcafee in connection with a murder, his neighbor's murder. he says he is innocent, but that he went into hiding because he feared persecution by police in belize. >>> the duchess of cambridge has discharged from a london hospital. she is nearly three months pregnant and
cliff on new year's day. that would mean automatic spending cuts and the expiration of tax cuts for most americans. president obama sent his top negotiator to the treasury secretary. tim geithner to capitol hill today. he met with leaders of both parties. republicans say they made no progress. and surprise, each party blames the other. >> the democrats have yet to get serious about real spending cuts. and, secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we have said it, we have said it, we have said it so many times the president said the same thing. it's been weeks, at least two weeks since we met at the white house and are still waiting for a serious offer from the republics. >> shepard: after his meeting with secretary geithner the senate minority leader mitch mcconnell said of administration officials quote today they took a step backward moving away from consensus and closer to that cliff. ed henry is live at the white house for us tonight. ed we are getting new informatio
, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare. >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top officials. >> woodruff: we have a battleground dispatch from a coastal city facing rising sea levels and the next big storm. >> if sandy were to come close or directly into norfolk i think we'd all be in big trouble. >> brown: we assess the latest diplomatic moves to end syria's war, as secretary of state hillary clinton meets with russia's foreign minister. >> woodruff: and ray suarez has the story of a program that aims to put students at low-achieving schools on a path to high school graduation. >> we're here to make things better. we're here to tutor kids. we're here to make sure that they stay on track. we are here to make sure that they graduate. we want to prepare them for high
associated press poll shows there is clear support for president obama's insistence on raising taxes on highest income earners. in the poll 48% want the cuts on income exceeding $250,000 a year to expire in january, while continuing them for everyone else, 30 to% wanted to renew -- 32% wanted to renew tax cuts for everyone. >>> this afternoon, the 49ers' new stadium will reap a construction milestone crews will erik the uppermost structural steel beams 200 feet above the ground. -- 49ers ceo york and other dignataries will hold a ceremony. the two beams pained gold will bear signatures of the projects 570 construction workers, 49ers as well as santa clara city leaders. the work began in july. the stadium remains on schedule to open for the 2014 season. >>> we had 49er day earlier in season now it is raiders day. >>> definitely going to be a tough morning. not hanging heavy over the bay bridge or as we look at the ferry building from downtown san francisco wind blowing out of the west keeping dense fog from forming. also what is pushing the moisture into the atmosphere and why we have
fiscal cliff rather than cave to republican demands for a continued tax break for the wealthiest americans. he made the statement in an interview with cnbc. >> i want to understand the administration's position on raising taxes for the wealthy, those making more than $250,000. if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a recognition that, maybe, they can accept some rate increases as long as is combined with a serious impediment reform and additional spending cuts. and if we can get the leadership on the republican side to take that kramer, to acknowledge that reality, then the numbers are actually not that far apart. another way of putting this is, we
still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. >> we're not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes, and expecting the problem to go away. >> reporter: house members headed home for a long weekend with democrats so far unsuccessful in their efforts to force a vote on a bill that would extend tax cuts to 98% of americans. but house speaker john boehner said he's here, and all ears. >> i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> reporter: 26 days out, and the waiting continues. with no deal in sight, the white house budget office is now ordering the pentagon and other federal agencies to finalize their plans for surviving massive spending cuts. reporting live on capitol hill, danielle lee, news4. >>> in fact, the pentagon is already putting a plan in place if there is no deal by january 1st. the preliminar
. everybody says it's going to be an economic catastrophe if we do. an average of $2,200 in extra taxes next year for the average american family. the president has undergone a campaign style series of events. he's had ceos marching up and down the driveway here. he's got a twitter campaign. yesterday he was out in suburban philadelphia asking con stitch wa -- constituents to write in, call, do whatever they need to do to get in touch with those republicans in the house of representatives, try to get them to turn their votes. the president put his first proposal on capitol hill last week. it had $1.6 trillion in new revenues. about half of it coming from ending tax cuts for the wealthy, something that he campaigned on. there are about $600 billion in cuts in domestic programs like medicare. it was greated with gails of laughter by the senate republican leader. here's what the president and the speaker of the house had to say about it yesterday. >> i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't
cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john boehner. he is offering $800 billion in increased revenue. he also wants much deeper cuts in entitlements and $800 billion in other cuts many spending. we've got reporters -- i want to start off with you. dana bash on the hill. a standoff here, republicans essentially saying, look, the president is not being reasonable here, and then you have the white house saying this is magic beans and fairy dust. is this a lot of posturing here? are we really at an impasse? >> yes to both of those questions. there is a lot of post urg, but we do seem to be at an impasse. i want to show our viewers some video that will illustrate just what we're talking about. that is pictures of members of the house of representatives leaving for the week, and now, i don't want tower viewers to get c
be no deal unless tax rates went up on the wealthy. >> the closer it gets to the brink, the more stressed we're going to be. >> woodruff: president obama made the short trip to northern virginia today to underline his plan to avert the fiscal cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay carney wouldn't share details of the call. >> we believe it's in the interest of achieving an agreement not to do that. >> reporter: treasury secretary timothy geithner said yesterday the white house was absolutely will
will cut a deal to keep middle class taxes from going up 26 days from now. leaders in the g.o.p. say the president is forgetting about the other part of the deal. the spending cuts. let's get to ed henry live for us tonight. ed, what else did the president have to say today? >> well, shep, there is so much pessimism from the myan calendar and predictions i suppose to predictions congress can't get its act together and get this fiscal mess cleaned up. the president tried to have a different message. he is trying to say he is optimistic and thinks that when everyone has their say here over the next few days they are finally going to get a deal. take a listen. >> i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one and that is good for the american economy. >> now, the president expressing on michelle there. we are told as well that his staff and speaker boehner's staff have now sort of resumed an open line of communication to try to wo
that they were going to, you know, pull out support, cut the tax revenues, but in the end the palestinian hort is important to israel because they provide the policing there. israel doesn't want to have to go back in and take over, and that's exactly what abbas threatened them with. i'll give you the keys to the palestinian authority headquarters. come and take them. the israelis really don't want them. >> i sense this is an important story. i mean, obviously. you are talking about the palestinians that suffer greatly if the u.n. pulled out that money and leverage there, but they are moving -- >> the u.s. has to be careful not to be on the wrong side. i mean, there's a change here that's taking place in the middle east. look at syria today, what's happening all across the middle east. >> okay. we got to leave it there. >> all right. >> thank you very much. >>> they're buzzing overhead. they are actually looking down on us from above. we're going to tell you why it is not just terror suspects who are being watched by drones and why some think the new technology could be violating our privacy. m
before everyone's taxes go up and programs get cut. jon karl is following it all. a small breakthrough yesterday, president obama and house speaker john boehner got on the phone. >> reporter: that may not sound like much, george. but it's the first time the two men have spoken in a week. and what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. >> we're starting to see some republicans concede that tax rates on the wealthy, at least, are going to have to go up. the president has another rock-hard bottom line. that's an increase in the u.s. debt limit, as well. >> reporter: that's right. republicans even top republicans, say the tax rates are going to almost certainly go up. but on this question of the debt ceiling, the government reaches the limit of how much money it can borrow in february. republicans say they will exact a price for that. they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> the president saying he
consistent and that he does not want the tax to go for people who are under too much as $50. he is adamant that any new tax revenue must come from--he once rates lowered and was is that and find a middle ground. >> in bay area a news they have released the names of two girls were shot and killed over the weekend in oakland. a 16 year-old girl and a another 15 year-old were found shot to death about 6:00 in the morning in east oakland. they have been hit by multiple gunshot loans. if they stated that they do not have a modem and they do not know why these girls were on the street along. no arrests have been made. >> oakland police are asking for your help. there is a 16 year-old girl walked away from a group home on coolidge ave. if the staff followed her but then they lost sight of her. she is considered at risk because even though she is set at 16 years of a her capacity is of a nine year-old child. >> to tickets matched the power of all s nine. those tickets were sold in arizona and missouri. fees two people matched all six numbers. they stated that they have not identified the winners b
know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back in
taxes on the wealthiest americans. >> that's what the president suggested. >>> ladies and gentlemen, the fiscal -- cliff! >> lottery officials will introduce the holder of one of the two winning jackpot tickets today. >> i'm very happy for him. he has worked very hard in his life and won't have to any more. >> the other big winner in arizona remains a mystery. >> the ticket holder may be all the way across this country in maryland. surveillance video shows a man who purportedly just found out that he wan on. >> now asking that person to come forward, show his ticket and bring your papers. >> lindsay lohan went to jail just to stay dry. >> whipped out his membership card. >> beau obama, inspecting the white house christmas decorations. >>> are you kidding me? >> never has drew brees thrown foiv interceptions and atlanta will survive. >>> an act of kindness by a new york cop going viral. tourist taking this photo of police officer larry deprimo giving boots to a homeless man. >> absolutely humbling experience. >> the police officer said it felt like the right thing to do and nicholas
ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 billion in market value yesterday. to put that into perspective, there are 417 companies listed on the s&p 500 index that have a market cap below $35 billion, so the jimmer fredet the majority of the s&p is valued at just below what apple lost yesterday. >>> a fairfax county woman will have to remove parts of her negative online review of a home contractor. the ruling was made yesterday. jane perez complained about repairs at her townhouse on yelp and angie's list. she claimed that her jewelry disappeared and that the contractor christopher deitz had the only other key to her home. the judge says that go
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